thenewscrypto.com
- Robinhood makes a major $200 million move in crypto with Bitstamp acquisition.
- Bitstamp holds over 50 active licenses and registrations worldwide.
Robinhood, the popular trading platform, is set to acquire Bitstamp, a prominent U.K.-based crypto exchange, for $200 million in cash. This strategic purchase aims to support Robinhood’s global crypto presence and attract institutional clients, by introducing new product offerings.
The transaction, bag to be finalized in the first half of 2025, signifies Robinhood’s strategic move towards expanding its foothold in the crypto market.
We’re accelerating Robinhood Crypto’s worldwide expansion. Robinhood has officially entered into an agreement to acquire @Bitstamp, a global cryptocurrency exchange with customers across the EU, UK, US and Asia.
— Robinhood (@RobinhoodApp) June 6, 2024
More details: https://t.co/wk3x02z0rU pic.twitter.com/aadKzhCxlx
Bitstamp was founded in 20211 and has established itself as one of Europe’s largest crypto exchanges. The exchange possesses a strong platform and holds 50 active licenses worldwide. With over 85 tradable assets and product features like staking and lending, Bitstamp’s integration into Robinhood’s ecosystem is poised to accelerate the growth of Robinhood crypto expansion.
The acquisition not only pits Robinhood against industry giants like Binance and Coinbase but also positions Bitstamp as Robinhood’s inaugural institutional venture. This move aligns with Robinhood’s broader strategy of diversifying its offerings and tapping into the burgeoning crypto market.
In a parallel development, Robinhood recently unveiled its Crypto Trading API, allowing users in the United States to trade cryptocurrencies. This initiative emphasizes Robinhood’s commitment to providing innovative tools and services to its clientele. Further solidifying its position as a trailblazer in the fintech industry.